US electronics retailer Best Buy (BBY.NYSE) is working with Bank of America Merrill Lynch on options for its China business, including a sale or partnership, The Wall Street Journal reported, citing unnamed sources. The Chinese business could fetch around US$300 million, although one person cautioned that it is too early in the process to set a firm price for the business. In China, the company operates under the names Five Star and Best Buy Mobile. The company closed some large-format Five Star stores in China earlier this year but still runs about 190 locations across the country.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved